Stempoint Capital LP Invests $13.92 Million in CG Oncology, Inc. $CGON

Stempoint Capital LP purchased a new stake in shares of CG Oncology, Inc. (NASDAQ:CGON - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 205,622 shares of the company's stock, valued at approximately $13,916,000. CG Oncology makes up about 2.7% of Stempoint Capital LP's portfolio, making the stock its 11th largest position. Stempoint Capital LP owned about 0.23% of CG Oncology at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Whittier Trust Co. of Nevada Inc. purchased a new position in CG Oncology during the 4th quarter worth $27,000. NFSG Corp purchased a new stake in shares of CG Oncology in the 1st quarter worth $34,000. Comerica Bank grew its position in shares of CG Oncology by 100.4% during the 4th quarter. Comerica Bank now owns 1,028 shares of the company's stock worth $43,000 after buying an additional 515 shares in the last quarter. Fifth Third Bancorp purchased a new position in shares of CG Oncology during the first quarter valued at $74,000. Finally, KBC Group NV purchased a new position in shares of CG Oncology during the first quarter valued at $78,000. Institutional investors own 26.56% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CGON. Weiss Ratings restated a "sell (d-)" rating on shares of CG Oncology in a report on Friday, July 17th. Wedbush increased their target price on shares of CG Oncology from $77.00 to $80.00 and gave the stock an "outperform" rating in a report on Monday, May 11th. Royal Bank Of Canada raised their target price on shares of CG Oncology from $79.00 to $81.00 and gave the company an "outperform" rating in a research report on Monday, May 11th. Wolfe Research assumed coverage on shares of CG Oncology in a report on Tuesday, May 19th. They issued a "peer perform" rating for the company. Finally, Truist Financial reaffirmed a "buy" rating and issued a $82.00 price target (up from $77.00) on shares of CG Oncology in a research report on Thursday, May 14th. Eleven equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, CG Oncology presently has a consensus rating of "Moderate Buy" and an average price target of $81.73.

CG Oncology Trading Down 4.8%

CGON opened at $69.12 on Thursday. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of -29.67 and a beta of 0.22. CG Oncology, Inc. has a 12 month low of $23.65 and a 12 month high of $77.00. The stock has a fifty day moving average price of $65.75 and a 200-day moving average price of $63.11.

CG Oncology (NASDAQ:CGON - Get Free Report) last issued its quarterly earnings data on Friday, May 8th. The company reported ($0.71) earnings per share for the quarter, missing analysts' consensus estimates of ($0.58) by ($0.13). The company had revenue of $1.08 million during the quarter, compared to analysts' expectations of $0.45 million. On average, equities research analysts forecast that CG Oncology, Inc. will post -2.89 EPS for the current year.

Insider Buying and Selling at CG Oncology

In other news, Director James Mulay sold 24,165 shares of CG Oncology stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $75.16, for a total value of $1,816,241.40. Following the transaction, the director owned 24,165 shares of the company's stock, valued at $1,816,241.40. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Leonard E. Post sold 5,000 shares of the business's stock in a transaction that occurred on Wednesday, June 24th. The stock was sold at an average price of $70.00, for a total transaction of $350,000.00. Following the transaction, the director owned 5,000 shares of the company's stock, valued at approximately $350,000. This trade represents a 50.00% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 37,129 shares of company stock valued at $2,663,817. 4.80% of the stock is currently owned by insiders.

About CG Oncology

CG Oncology, Inc NASDAQ: CGON is a clinical-stage biopharmaceutical company focused on the discovery and development of novel antibody-based immunotherapies for the treatment of solid tumor cancers. The company leverages a platform-driven approach to identify and optimize antibody candidates that engage key immune checkpoints and co-stimulatory pathways within the tumor microenvironment. Its pipeline encompasses multiple preclinical programs alongside early-phase clinical trials designed to assess safety, dosing and preliminary anti-tumor activity.

Headquartered in South San Francisco, California, CG Oncology conducts clinical research primarily in the United States, collaborating with leading academic medical centers and contract research organizations to advance its lead candidates.

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